Virginia

Virginia finished its 2013 fiscal year with a $585 million budget surplus, Gov. Bob McDonnell announced

Municipal bond issuance in the Southeast dropped nearly 12% to $30.7 billion in the first half of 2013. Sales were down in eight of the 11 states comprising the region.

A Virginia circuit court is preparing to reconsider Fluvanna County's lawsuit against financial advisor Davenport & Co., after the state supreme court rejected the firm's motion for a rehearing of the state Supreme Court's decision to reverse a ruling that had favored it.

Toll revenue from the I-495 express lanes in Northern Virginia increased 64.6% from the first to second quarters of this year, according to Transurban Group, the Australian infrastructure firm that operates the lanes.

Virginia Gov. Bob McDonnell has released a draft report showing 10 candidate and 10 conceptual transportation projects that could move forward as public-private partnerships in the commonwealth.

Virginia is continuing its push to be the leading public-private partnership state, opening a bustling travel corridor to private sector involvement a day after a major infrastructure firm announced it has moved its U.S. headquarters to the commonwealth.

The American Road and Transportation Builders Alliance will focus on a potentially trend-setting challenge to a prominent Virginia public-private partnership at the group's annual conference July 24-26.

Australian infrastructure giant Transurban will concede the 8.8-mile Pocahontas Parkway toll road in southeast Virginia back to its lenders because the road failed to live up to its revenue projections.

Municipalities throughout Virginia will receive a share of nearly $155 million in state funds to help with infrastructure projects, Gov. Bob McDonnell announced Friday.

Moody's Investors Service has downgraded to A1 from Aa3 the Metropolitan Washington Airports Authority's $5 billion of airport revenue bonds.

Sean E. Ekiert has joined Raymond James as a managing director in Richmond, Va.

Miami Beach is participating in the two-year RE.invest Initiative funded by the Rockefeller Foundation to help the city rethink the way it designs, plans, implements, and finances infrastructure.

The Rockefeller Foundation selected eight cities to participate in the RE.Invest Initiative, a national effort to support sustainable infrastructure that includes financial advice on P3 options.

The Virginia Department of Transportation begins a series of meetings to take public comment on the draft six-year work program being considered by the Commonwealth Transportation Board.

A Virginia Circuit Court judge has ruled that the financing mechanism of the Elizabeth River Crossings project in the southeastern part of the state is unconstitutional, calling into question the future of the multi-billion dollar public-private partnership and other Virginia P3s.

Arlington County, Va., will come to market Tuesday with about $190 million of triple-A rated debt. The county has a strong economic profile but faces some challenges from federal cutbacks.

The Virginia Supreme Court has reinstated Fluvanna County, Va.'s lawsuit against Davenport & Co. LLC, which seeks damages for state and federal security law violations the county claims the firm committed while serving as its financial advisor.

The Virginia General Assembly on Wednesday approved Gov. Bob McDonnell's amended transportation plan, which slashes gas taxes and is projected to pump billions into Virginia's transportation infrastructure over the next five years.

Moody's Investors Service Tuesday upgraded the Southwest Virginia Regional Jail Authority's rating to A1 from A2.